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BLU - Blue Energy

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Yep it's in a newsletter that I receive. They did point out the large hangover that ANZ have over BUL which they say has been and may continue to keep the SP down in the short-medium term. The key point was KOGAS stake being a major plus and good positioning of landholdings.
 
Indeed your right about the BUL ANZ debacle.


http://www.theaustralian.com.au/bus...zs-security-sale/story-e6frg9df-1111116859725

This occurred almost 3 years ago and during that time, BUL has traded in a range between 15 cents and 30 cents. If there was a dump it would have happened between the last 3 years. Instead it looks on chart like the sell off has been responsible and consistent, rather than massively dumped.

The recent rise to 23c+ is "predictable" and not out of the ordinary as it has traded sideways between July 2008 and today. It probably spent about 50% of its time in regions between 20 and 30c. MACD has been accurate 75+% of the time, and predicted its current bull run.

On strictly a technical basis I became a part of this stock. And i retain a short term target of 25c after a consolidation at 20c..
 
Do any of you have more recent information on the ANZ share conundrum?

Also in your opinion does BUL look like an attractive stock at the current SP (22 cents)?

(just curious am I breaking forum rules asking the second question?

Thanks,
S
 
ANZ is still in custody of the huge bundle of BUL shares as a result of the Opes Prime saga. There was a court decision stopping ANZ from selling those shares pending further legal developments. DYOR, plenty of material on this topic in the public domain.

Some people fear if ANZ was to dump all of it then it may depress the sp (read previous post). Also some people speculate that if ANZ was to dispose of the shares, the existing substaintial shareholders may snap it up.

Everything is pure specualtion and guesswork at the moment, many including myself would love to see this uncertainty removed/resolved and BUL will be re-rated.
 
Can someone help me and explain in simple terms what the latest BUL drilling report means? Good / bad / indifferent??
 
vincent191 said:
Can someone help me and explain in simple terms what the latest BUL drilling report means? Good / bad / indifferent??
Click to expand...

I'd have to say indifferent - simply because they are not announcing anything in particular - just telling you what they are up to. where they are drilling when and what kind of holes.
nice to know things are happing though.

next announcement will probably tell what they hit in the stainburn downs 1 hole (which is going into the target seam now) - seam thickness, gas indications etc.

-d
 
BUL Blue Energy

werent these the guys that were on that OLN Network tv show on drilling ?
or was that mustang energy...
 
A lot can happen with BUL in the next two years.( And thats no bull}

1. The ANZ holding that is the subject of dispute should be sold. This large holding and the legality of the holding has created uncertainty because if it was dumped on the market it will cause quite a disturbance to the SP. Surely this will be settled within two years.

2. The exploration program has shown some promising results that should be proven as reserves within two years.

3. While there has been a lack of interest in carbon trading the reduction of greenhouse gas emisions is still necessary and will eventually favour gas over coal.

4. The Queensland government seems to be favouring the use of gas as a fuel. Stanwell are large shareholders of BUL and are a government owned power generator.

5. Kogas are a large shareholder and are South Koreas largest gas importer. The Korean situation at present is not helping the BUL SP. That will be resolved.North Korea are due to become another "East Berlin" and come in out of the cold.

6. BUL hae extensive lease areas in the right place at the right time.

7. The SP has fallen to a low that should make BUL a well priced buying opportunity.

8. China is an emerging market for gas. Australia is in the best position to supply that gas well into the future. I believe that China will be keen to secure a reliable supply for huge quantites of gas.

9. In addition to China there is a large gas market developing in Singapore and Japan.

10. Gas seems to be in an oversupply situation now and is having a negative effect on the SP of gas producers. I believe this could be reversed in the short term.

These facts should prove that BUL is a good long term buy.

DYOR. I'm often wrong.
 
nioka said:
3. While there has been a lack of interest in carbon trading the reduction of greenhouse gas emisions is still necessary and will eventually favour gas over coal.
Click to expand...
Not in our lifetime.
The CQ liquefied natural gas projects are sourcing natural gas from the Surat and Bowen Basins. BUL (in the distant future) will have two options. One is to link with the NQ pipeline down to the CQ LNG plants. Two and for the KOGAS interests, build a liquefied natural gas plant on the coast adjacent to the Galilee Basin. Probably around Hay Point. That could be year 2015 onwards judging by the stringent, exhaustive environmental impact policies and that regions infrastructure requirements.
 
The quarterly report is out. There are no surprises. The drilling results continue to prove up the resource. Kogas as a partner is still in the picture. The financial position is good ,it appears there are sufficient funds on hand to complete the resource assessment. The ANZ situation has not been settled but it should have no long term effect on BUL itself even though it seriously affects shareholders that appear to have lost ownership of their shares. I suggest the appointment of John Phillips as managing director is a good move.
I'm happy to hold BUL and with a little patience I look forward to it being a great long term investment

And,,,,, I believe in my lifetime (and that is running out) carbon trading will give gas an edge over coal.
 
shares are trading at 14c to 15c I have an order in at 13.5
Im in for the long haul

from 95 to 05 they paid a dive what happened to the company in 05 to change this

like you say Noika good prospects
 
From Page 10 of the annual report;

Blue Energy?s Mission:
Blue will be in the ASX 200 List within 12 months
Blue will be a profitable energy producer within 3 years
Blue will have a significant reserve base
Blue will have a significant and diverse exploration portfolio
To achieve our Mission:
Blue Energy will conduct its activities with technical rigour combined with peer review of technical assumptions and findings.
Our focused commercial objectives are:
To have Certified Reserves with 18 months, and
Revenue within 3 years

Note they say "will be" not "hope to be". It has been a rough time lately but "Their time starts NOW".
 
Hi Nioka

Thanks
I am no more a BUL holder
Did you find out a road map given in the annual report demonstrating how they are going to fulfil the mission statements ?

I have often got caught on so called mission statements without backing of a solid business plan.

Just my thoughts and not any thing particular to BUL (sorry for slightly off the topic)
 
Miner said:
Hi Nioka

Thanks
I am no more a BUL holder
Did you find out a road map given in the annual report demonstrating how they are going to fulfil the mission statements ?
Click to expand...

I believe that the road map has been spelt out clearly for some time. Proving the resource is ongoing. The association with Kogas and Stanwell is ongoing.

The fact that a director has just purchased a good bundle of shares at an average price of 12.5c on market means two things. Firstly it means that he has confidence that progress is being made but it also means that there is no great news about to be released or he would be guilty of insider trading. My target for this one to pay off was a two year one. While I still place BUL in the spec class I do not have it sitting in the corner wearing the dunce's hat.

At this stage I am a little disappointed with the speed of the progress but there has been political problems for coal seam gas that have rocked the confidence in the industry in Queensland and NSW. I believe these problems will be overcome.
 
Until BUL can prove up a reserve it is still an exploration company but they do hold some highly promising tenements and boast off two very prominent shareholders the Queensland Gas Company (I forgot the name) and Kogas.

Early drilling results are promising they have found coal but need more work done to establish how much gas can be extracted from those deposits. They had 3 rigs drilling and setting up a couple of pilot wells.

BUL has plenty of cash and Kogas is agreeable to fund BUL's further exploration budget if needed. All we need is BUL to proof up a commercially viable reserve and it will be happy days. I hold BUL.
 
Pending shareholders approval tomorrow BUL will issue 100 million shares to "sophisticated investors" at 80% of average price over the last 5 trading days. IMO normally "sophisticated investors" mean family and friends. I guess that means there should have good news soon and the Directors are looking after number one - themselves. The MD has also awarded himself huge parcels of performance options.

On the surface it looks questionable but isn't every other Company doing the same? I don't really care as long as the Directors add real value to the Company. My guess is BUL is close to announcing good results in it's pilot gas wells and a healthy reserve.

If it can be proven that it's neighbour, Arrow Energy's deposit continues into BUL's acreage BUL will go into orbit. All this is highly speculative and a lot of reading between the lines. BUL had always promised a lot but up to now delivered very little. Now that we can see the sophisticated money maybe something is happening.
 

Four months since I posted the above. Four months of frustration and very little change. Kogas have renewed their option, that at least shows that they are still in the picture. Test wells are being dewatered and that is a sign that the political problems are being managed. The long wet has delayed work but that appears to becoming less of a problem.

Am I still holding? Yes. Do I still consider BUL to be a good spec at the current SP ? Yes.
Am I still accumulating ? Yes, (in a small way, trading for freebies).
 

Welcome back Nioka your imput is aways welcome
 
Hopefully today is the start of the revival of the BUL. Following a trading halt they have announced a capital raising to fund the proving of a commercial resource. The good news is that one of the subscribers to the funding is Phil mathews who now holds more than 5% of the company. He has a history of successful participation in the CSG industry and his participation is another vote of confidence.

I still have confidence that BUL will pay off for me. At this stage I am down almost 50% and it is not usual for me to hold something with that sort of loss. Hopefully it is up from here. I will be buying and averaging my price down now. DYOR, I've been wrong on BUL so far.
 

I'm only down 30% could have brought cheaper then you mate
However re the average down will have to sell other shares which I don't really want to do. But this could depend on the cap raising price....

Do you have any more info on Phil Matthews
 
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